Jet-bot is the newest addition in the crypto trading bots industry. It was released in 2020 and received positive reviews from many of its users.
We’ll be discussing some of its outstanding features and merits.
What is Jet-Bot?
Day traders are often able to keep their 9-to-5 jobs, so it is crucial for them to be able to fit in their crypto tasks in a short amount of time. These tasks are accomplished by bots or crypto automation software. They use a series of commands to scan the market for lucrative deals, and then grab the opportunity to seal the deal as soon as it appears.
The classic crypto bot creator is simplified and comes with pre-set features that can be mixed in a particular order.
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78% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading forex or CFDs on margin involves a high degree of risk and may not be suitable for all investors. There is a possibility that you may suffer a loss equal to or greater than your entire investment.
CFDs are complex instruments and involve a high risk of losing money quickly because of the leverage effect. 68% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Bots that are less customizable have a greater chance of being mismanaged. It is therefore important to make it easy for beginners and sacrifice some of the more advanced features.
Jet-Bot hosts a marketplace where bot experts can rent out their scripts and make a percentage of the profits. You can also do “copy-trading”, where you run another script. This method does not require prior programming knowledge or experience. Caveat? Caveat?
This is Jet-Bot’s story. The devil is in the details. Let’s take a closer look at things.
Jet-Bot: How to get started
It’s very easy. Visit www.jetbot.com first. To register on the site, click ‘Login’. A login page will appear where you can enter your email address and password. You can also sign in using your Telegram account, Facebook, or Google.
The platform will send you an email link to verify your account. The platform will ask you to link your account with Telegram. Once this is done, your account will be created successfully.
Next, connect your Binance Account with Jet-bot. To do this, you will need your API key and secret key as well as your Binance account number. Next, create your bot. As its scope of operations, you can choose from demo, spot or futures. To receive updates about your bot strategies, you can enable Telegram’s Alert System.
Jet-Bot: How can you use it?
Jet-Bot can be used from anywhere, cloud-based. You don’t have to install or set up software. This is particularly important for people with limited IT skills or time and lowers the barrier to entry to Jet-Bot.
It is easy to use and intuitive.
Every metric, indicator or feature has its place on the menu. Even novices can learn the ropes very quickly. The bot builder features can be pre-designed, assembled, and coded from scratch. The entire process is more like a puzzle than programming. This is because casual traders often find programming difficult.
Coding is for big brains only, right? Riiiight? Copy-trading is also an option to rent someone’s codes.
It is possible to do this without needing to know anything about crypto trading. It is possible to become an investor, rather than a trader. While betting on horses that win can make you small profits, it could also lead to large losses. This is something that everyone needs to be aware of before engaging in any further betting.
Jet-bot offers four pricing options. These are:
- BINANCE BROKER PACKET: $9 per Month and includes one broker and one futuresbot.
- BEGINNER PLAN: $39/month and includes a spot and futures bot, as well as an exchange connection.
- BASIC PLAN: For $59 per month, it includes two futures and two spot bots, as well as two exchange connections.
- EXTENDED PLANS: This plan costs $89 per month. This package includes 10 futures bots, ten spot bots, and ten exchange connections.
Coinpayments accepts payment in BTC, Ethereum and TRX. You can get 30% off your yearly bill.
This is either bad news, or at the very least, semi-bad information. Integration in the global cryptocurrency market is a key factor in a crypto bot’s success. Jet-Bot supports Binance only as a cryptocurrency exchange.
Jet-Bot was able to obtain a Binance Broker Program which permits it to become an official broker on the platform.
This program claims to provide faster API sync speeds. This claim is at best questionable and at worst lies. It is easy to open a Binance account through the platform with one click.
Pros and Cons
|It allows copy trading by its users
|Only Binance Exchange is supported
|It’s easy to use and has an intuitive interface
|Users can try the platform for free by requesting a three-day trial
|You can create an account without requiring KYC or credit card
|You can create your own bots, and your own strategies
It works great, even though you don’t need any trading or coding knowledge. It is a major flop in crypto.
The middle is the answer. The software is still considered “average” despite its basic functions. Jet-Bot is still too young to be considered a true gem in the rough.
It is not recommended. However, it has many flaws which are immediately apparent. These include low customizability as well as poor integration with cryptocurrency exchanges.
Many more treasures are hidden that young people may not yet have discovered.
Our final verdict? It is better to stick to tried-and-true options. These include Quadency, Bitsgap.